Susquehanna Fundamental Investments LLC Raises Position in ArcBest Corporation $ARCB

Susquehanna Fundamental Investments LLC increased its stake in ArcBest Corporation (NASDAQ:ARCB) by 85.0% during the second quarter, HoldingsChannel reports. The firm owned 34,527 shares of the transportation company’s stock after acquiring an additional 15,862 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in ArcBest were worth $4,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in ArcBest in the second quarter worth $503,476,000. Invesco Ltd. raised its stake in shares of ArcBest by 625.4% in the fourth quarter. Invesco Ltd. now owns 920,498 shares of the transportation company’s stock valued at $68,292,000 after buying an additional 793,607 shares during the period. Turtle Creek Asset Management Inc. purchased a new position in shares of ArcBest during the 3rd quarter valued at $39,508,000. Principal Financial Group Inc. lifted its position in shares of ArcBest by 349.9% during the 4th quarter. Principal Financial Group Inc. now owns 493,780 shares of the transportation company’s stock valued at $36,634,000 after buying an additional 384,024 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of ArcBest by 158.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 490,064 shares of the transportation company’s stock worth $37,740,000 after acquiring an additional 300,642 shares during the period. Hedge funds and other institutional investors own 99.27% of the company’s stock.

Insider Buying and Selling

In other ArcBest news, Director Judy R. Mcreynolds sold 2,857 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $138.98, for a total transaction of $397,065.86. Following the completion of the transaction, the director owned 50,048 shares of the company’s stock, valued at $6,955,671.04. This represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erin K. Gattis sold 6,163 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $140.00, for a total value of $862,820.00. Following the completion of the sale, the insider owned 24,286 shares of the company’s stock, valued at approximately $3,400,040. This trade represents a 20.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,963 shares of company stock valued at $1,678,066 in the last ninety days. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ARCB shares. UBS Group boosted their price target on shares of ArcBest from $145.00 to $154.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Stifel Nicolaus lifted their price target on ArcBest from $134.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of ArcBest from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Morgan Stanley boosted their target price on ArcBest from $150.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, TD Cowen cut their price target on shares of ArcBest from $175.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.23.

ArcBest Trading Up 1.0%

Shares of ARCB opened at $137.97 on Tuesday. The stock has a market capitalization of $3.08 billion, a P/E ratio of 199.96, a PEG ratio of 0.45 and a beta of 1.57. ArcBest Corporation has a twelve month low of $59.43 and a twelve month high of $176.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $144.57 and a two-hundred day simple moving average of $126.34.

ArcBest (NASDAQ:ARCB) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.12. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ArcBest had a net margin of 0.39% and a return on equity of 7.92%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, research analysts anticipate that ArcBest Corporation will post 6.9 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, August 7th. ArcBest’s payout ratio is currently 69.57%.

ArcBest Profile

ArcBest Corporation (NASDAQ: ARCB) is a transportation and logistics company that offers comprehensive freight and supply chain solutions across North America. Founded in 1923 as Arkansas Best Freight System, the company has evolved into a diversified service provider with both asset-based and asset-light operations. Its core businesses include less-than-truckload (LTL) shipping through ABF Freight, expedited full-truckload services via Panther Premium Logistics, and a range of logistics and supply chain management services under its ArcBest Integrated Logistics division.

The company’s asset-based operations also encompass FleetNet America, a provider of emergency roadside assistance and maintenance services for heavy-duty vehicles.